Independent Living Asset Near Breakeven Changes Hands
Blueprint handled the sale of a 60-unit independent living community located just outside of Cleveland, Ohio. At the time of sale, the property was operating around breakeven and offered the opportunity for upside. The option to transition the community to an assisted living waiver model was presented, but the incoming regional owner/operator opted to maintain its independent living status to avoid the regulatory hurdles that come with licensure conversion. The buyer aligned with the seller’s vision for the community, and intends to focus on operational efficiencies and incremental improvements. Connor Doherty and Ryan Kelly of Blueprint represented the undisclosed... Read More »
National Health Investors Leans Further Into SHOP Growth
National Health Investors is continuing to lean into its SHOP segment, having invested $742.5 million into the strategy throughout the first quarter, a 106% increase from the prior year period. Year-to-date, the REIT has announced $212.4 million of investments, and is continuing to evaluate additional opportunities, focusing on private pay seniors housing. NHI also announced that it sold a few assets during the quarter and acquired two separate portfolios. In January, National Health Investors sold a 42-unit senior living campus in Michigan for $6.7 million, and in February, the company acquired nine assisted living communities in Kentucky, South Carolina and Tennessee. Berkadia handled... Read More »
Large SNF Portfolio Trades in Alabama
A large skilled nursing portfolio traded hands in Alabama with the help of Jeffrey Vegh and Joe Schiff of Forest Healthcare Advisors. A Florida-based group divested the 11 facilities, which comprise 1,205 beds. At the time of sale, the portfolio was cash flowing and operating at a healthy occupancy, but still offered upside potential. The buyer was an East Coast healthcare company with an existing skilled nursing and assisted living footprint. Read More »
Not-for-Profit Sells Class-A Campus to Not-for-Profit
Crest View Senior Communities divested Crest View Senior Community at Blaine, a 164-unit full-continuum campus in a northern suburb of the Twin Cities that was built in 2015. Catholic Eldercare, a not-for-profit senior living organization based in the state, was selected as the buyer, as it aligned with Crest View’s goal of keeping the community with a faith-based provider. This is the eighth community in Catholic Eldercare’s owned/managed northeast Minneapolis and surrounding suburbs portfolio. Catholic Eldercare also plans to take over management of Columbia Village, a HUD 202 apartment building in Columbia Heights, Minnesota, also owned by Crest View. Ziegler represented Crest View, and... Read More »
High-Performing Assisted Living Community Sells
A regional owner/operator with an established presence in the Southeast acquired a high-performing assisted living community in North Carolina. Built in 1988, Autumnfield of Belhaven encompasses 32 units with 64 beds and was operating at strong occupancy at the time of sale. The seller had made meaningful capital improvements to the physical plant prior to going to market, and the asset sits in a supply-constrained market largely due to North Carolina’s Certificate of Need framework. There is significant upside potential for the buyer, who aligned with the seller’s timeline and long-term vision for the community. Evans Senior Investments represented the seller, an independent... Read More »Schedule a demo
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